(News Bulletin 247) – The Paris Stock Exchange is down sharply at midday this Tuesday, with the CAC 40 moving close to 8,100 points.

Backtracking for the Paris Stock Exchange, which is giving in to caution after rather restrictive comments from certain members of the American Federal Reserve, indicating that rates will still remain high.

Doubt is now entering the minds of investors looking for clues about the Fed’s future intentions regarding its rate policy. The trend in Paris reflects this caution, with the CAC 40 losing 1% to 8,117.06 points. Preserving the 8,100 points is now the challenge of the day, with a first alert at 8,097.98 points shortly before noon.

The atmosphere is diametrically opposed to that observed the day before since the Parisian index had progressed by 0.35% to close at the gates of 8,200 points.

Like the day before, the agenda will be sparse. It will expand throughout the week with speeches from other members of the American Federal Reserve. These interventions will give some indications to investors looking for signals on the future intentions of the Fed regarding its monetary policy. On this subject, the American institution will publish on Wednesday its report of its last monetary policy meeting: the famous Minutes.

On Wall Street, the main equity indices ended Monday’s session in scattered order. The Dow Jones fell by 0.5%, below 40,000 points penalized by JP Morgan when the Nasdaq finished sharply higher, with a record in the session, when the S&P 500 was also well oriented, before the eagerly awaited publication from Nvidia on Wednesday evening after the market. While waiting for this major meeting, American operators will have the leisure to dissect the publications of distributors Macy’s and Lowe’s which are good barometers of consumption across the Atlantic.

Clariane looks to the future

In Paris, news is sparse on the business side. On the CAC 40, Sanofi is down slightly by 0.4% while the pharmaceutical group announced on Tuesday a collaboration with OpenAI (the creator of ChatGPT), to use artificial intelligence in the development of drugs.

Excluding the star index, Clariane continues its rise, jumping 12.3%, bringing its gains to more than 50% since Friday. The retirement home operator announced its roadmap for 2023-2026, a few days after unveiling capital increase operations intended to strengthen its financial structure.

Carmila is up 3.1%, supported by an increase in recommendation from Citigroup, which goes from sell to buy with a price target also raised from 11 euros to 19 euros.

On other markets, the euro gained 0.1% to 1.0871 dollars. Oil prices are falling sharply. The July North Sea Brent contract is down 1.1% to $82.81 per barrel, while the June WTI contract is also down 1.1% to $78.46 per barrel.